Aurobindo to acquire R&D assets from Melbourne-based Advent Pharmaceuticals
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Aurobindo to acquire R&D assets from Melbourne-based Advent Pharmaceuticals

By Keshav Sunkara

  • 13 Nov 2018
Aurobindo to acquire R&D assets from Melbourne-based Advent Pharmaceuticals
Credit: Pixabay

Hyderabad-based drugmaker Aurobindo Pharma Ltd has agreed to acquire a product under development and related assets from Australia-based Advent Pharmaceuticals Pty. Ltd for $12.5 million (Rs 91 crore) in cash.

The transaction, expected to close by January next year, will boost research and development capabilities in complex speciality generics, Aurobindo said in a stock-exchange disclosure.

Melbourne-based Advent Pharmaceuticals is a speciality research and development company, focused on generic inhaled products for global markets, according to its website.

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Aurobindo’s consolidated revenue from operations stood at Rs 16,499.84 crore for the year through March 2018, up from Rs 15,089.86 crore the year before.

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